<p>Mumbai: Rupee depreciated 4 paise to close at 84.09 (provisional) against US dollar on Wednesday, weighed down by weak domestic markets and month-end dollar demand from importers.</p>.<p>Forex traders said suspected intervention by the Reserve Bank of India (RBI) supported the local currency at lower levels.</p>.<p>At the interbank foreign exchange, the rupee opened at 84.06 against the greenback. It traded in a tight range and ended the day at 84.09 (provisional), down 4 paise from its previous close On Tuesday, the rupee gained 2 paise to settle at 84.05 against the US dollar.</p>.<p>The local currency has been hovering around its all-time low level. Rupee touched its lowest closing level of 84.10 against the dollar on October 11.</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.15 per cent lower at 104.16. Forex traders said the dollar declined on disappointing jobs data from the US.</p>.<p>Brent crude, the global oil benchmark, rose 0.53 per cent to USD 71.50 per barrel in futures trade.</p>.<p>"We expect the rupee to trade with a mixed to negative bias on weak domestic markets and sustained FII outflows. Month-end dollar demand from importers may further weigh on the rupee.</p>.<p>"However, softening of US dollar amid disappointing jobs markets may support the rupee at lower levels. Traders may watch out for Q3 2024 GDP data and non-farm payrolls report from the US this week," said Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas.</p>.<p>On the domestic equity market front, Sensex declined 426.85 points, or 0.53 per cent, to 79,942.18 points. The Nifty fell 126.00 points, or 0.51 per cent, to 24,340.85 points.</p>.<p>Foreign institutional investors (FIIs) were net sellers in the capital markets on Tuesday, as they offloaded shares worth Rs 548.69 crore, according to exchange data. </p>
<p>Mumbai: Rupee depreciated 4 paise to close at 84.09 (provisional) against US dollar on Wednesday, weighed down by weak domestic markets and month-end dollar demand from importers.</p>.<p>Forex traders said suspected intervention by the Reserve Bank of India (RBI) supported the local currency at lower levels.</p>.<p>At the interbank foreign exchange, the rupee opened at 84.06 against the greenback. It traded in a tight range and ended the day at 84.09 (provisional), down 4 paise from its previous close On Tuesday, the rupee gained 2 paise to settle at 84.05 against the US dollar.</p>.<p>The local currency has been hovering around its all-time low level. Rupee touched its lowest closing level of 84.10 against the dollar on October 11.</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.15 per cent lower at 104.16. Forex traders said the dollar declined on disappointing jobs data from the US.</p>.<p>Brent crude, the global oil benchmark, rose 0.53 per cent to USD 71.50 per barrel in futures trade.</p>.<p>"We expect the rupee to trade with a mixed to negative bias on weak domestic markets and sustained FII outflows. Month-end dollar demand from importers may further weigh on the rupee.</p>.<p>"However, softening of US dollar amid disappointing jobs markets may support the rupee at lower levels. Traders may watch out for Q3 2024 GDP data and non-farm payrolls report from the US this week," said Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas.</p>.<p>On the domestic equity market front, Sensex declined 426.85 points, or 0.53 per cent, to 79,942.18 points. The Nifty fell 126.00 points, or 0.51 per cent, to 24,340.85 points.</p>.<p>Foreign institutional investors (FIIs) were net sellers in the capital markets on Tuesday, as they offloaded shares worth Rs 548.69 crore, according to exchange data. </p>